The word concurrent itself defines its meaning, concurrent means happening at the time. Concurrent Audit means doing the examination of the financial transactions at the time of happening or parallel with the transaction.
Most of the new articles who have been assigned to do the concurrent audit become terrified when they have to go to bank alone, questions like what is this. How to do this? New and horrible banking software? Etc. arises. It is normal to be nervous at the first time but later on everything starts running smoothly. In my case such things had happened even I was out of station alone. So instead of getting lost what to do, we just can learn the things from there. If we do the concurrent audit of banks very precisely then we can learn a lot of banking core knowledge, new banking software, RBI norms and many more. So for the aid of new articles doing concurrent audit I am going to write this article so that they can make intellectual profit from this.
To conduct the concurrent audit of banks we should generally look forward following things: